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April 15, 2010 / Jeb

General Moly (GMO) Poised To Be Largest U.S. Moly Only Miner

Last year following the major market crash I recommended General Moly to purchase at $2. At the time General Moly needed a major investor to push their major molybdenum projects forward.  A few weeks ago the Chinese came and solidified General Moly’s future to be the largest U.S. Primary Moly Miner.

Notice my previous posts where I recognized the large money flow into this company long before the Hanlong Investment. After the latest news GMO pulled back to previous resistance which is now support.

The MACD is about to cross which means that GMO may have the strength to make another move higher.

China is now importing molybdenum and their demand for specialty alloys are increasing.  Right now purchasing GMO provides great leverage to the price of molybdenum and believe it could move to $7 by the end of 2010.

I believe GMO should be bought as it crosses $4.

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2 Comments

Leave a Comment
  1. Clint / Apr 27 2010 3:29 pm

    What do you think about the latest news regarding GMO’s water supply? Looks like panic sales and a opportunity to buy?

    • Anticipate Opportunities / Apr 28 2010 9:57 pm

      I would agree.

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